NFT SAFE HAVENS

That was a tough +200 NASDAQ day, with a slew of growth stocks getting forked. I had problems early going when trying to play ordinary stocks and then I switched over to the wondrous NFT space and made it all back, and much much MOAR.

I closed the session at highs, +150bps, with grandiose gains in stocks like IMTE. These are really shitty bottom dweller type names, but the market is excited about them and anything one is rumored to be involved, UP WE GO.

I did warn you.

I am resolutely bullish, even though I believe this narrative of selling spec for big cap growth is ruinous. I need to remind myself to avoid catching knives all day long.

Greetings Friendo,

It appears the early 2014 narrative is intact, as the NASDAQ gleefully gallivants higher, everything is getting murdered. The ordinary stock is down 0.65% now, with breadth of only 30%. All the gains are consolidated in mega cap tech and dividend paying stocks. Breadth there is an impressive 80%.

In other words, you are in a pot boiling slow and do not know it. The rotation is happening in front of you and you’re too fucking stupid to see it for what it is. These losses are likely to be PERMANENT. Stocks like PLUG and others will likely never attain their record highs again. That was the high water mark and now we are delving, mind you, back into a melancholic symphony of blandness and 3% daily breakouts.

I have achieved the impossible, swapping out my old man stocks for shit. At one point I was 140% levered, but have since PARED down everything to the bones, now 55% cash. I am presently FLAT for the day, as Mother Market absconded with my gains and spit in my face for daring to buy low cap runners. Everything I bought fell and all the things I watched idly rose. I am fortunate, frankly, to just be flat on this bloody +200 NASDAQ day.

Breadth is weak as shit in the speculative WSB loser sectors, however STRONG in traditional growth with out earnings sectors like SAAS. I view this positively, as traders get back to basics and also BEHOLD the wonders of NFTs. I had the opportune to profit from the OCG spike today and several others and now find myself in a most familiar position, UP 150BPS without even trying.

The Gods bless House Fly like they curse to hades all of you for betting against me.

That being said, I am mindful that trading isn’t for everyone. I am even more mindful that, as times, following Le Fly into high viscosity trades might in fact lead to a CANNON BALL to the face, take the whole head off. What I am doing here, day in and day out, is nothing less than art. I’d like to call it a science, but I’d simply be lying. I endeavor to make it into a science, which is the purpose of Stocklabs and the Quant. The Quant isn’t doing poorly, up 17% YTD. But it is leagues and scores behind yours truly, presently presiding over a gain of 180%.

Into the later hours of the session, I suspect the gains will increase and breadth improve. At the moment, I am situated in a margin position, levered, but also with lots of old man stocks to anchor me down.

We’re heading into the best time for stocks post 20% drawdown for high growth names. SAAS stocks have been punched in the head, alongside all of the stupid solar and alt energy names. The hatred out there is palpable and the Peter Schiff’s of the world are still at large.

While it’s still possible I am falsely confident in the face of soon to come harrowing drawdowns, I don’t believe so. As a matter of fact, my trading account is at RECORD FUCKING HIGHS, not giving a shit about anything at all.

Life these days entails tennis and gym, austere living to adhere to my cutting regimen. COVID lockdown has turned me into a hedonistic fucked face, eating chicken pot pies and cannolis. No more of that shit. No booze, nothing sweet, nothing good. Food is not to be enjoyed, only ingested and just enough to keep me alive.

I booked a profit of 333bps for the week, half of my weekly goal. I also made 71bps today, off 150bps from my session highs. But we all can’t get what we want all the time — can we?

I closed out the day 107% leverage, margined to the hilt. But half of my stocks are of the old man varietal, MCD, HD and shit like that. I am betwixt hating this market and unassailable greed. I went long several NFT plays for the weekend gamble and might soon learn to regret that, as these fucking stocks are prone to collapsing 10% at any given moment. Nonetheless, I am confident in the Gods and trust my fate, in their hands.

It’s a declarative statement, said as if it were a fact. It is my opinion and can do and say as I like, providing that I tell you that I am NOT a financial advisor and do not believe heeding my advice will cause you to enjoy your lives in riches and grandeur. Quite the opposite, as a matter of fact. Follow me into the wrong FOX HOLE and catch a cannonball to the chest — entire account washed away, or at least half of it.

I’ve been amused with the NFT craze and the things people are willing to do with their money. $500k for a virtual home, $7.5 for an poorly drawn work of digital art, $35k for LAND inside Decentraland. I’ve come to the conclusion that we all have far too much money and Jim Biden ought to do something about it. But before he does, we shall have a grandiose top off — with SHITCOINS leading the way. As you know I’ve been obsessed with the Meta-Universe of Decentraland (ticker MANA) and have recently discovered a small footnote in the share structure.

BURN

THE BULL CASE FOR $MANA pic.twitter.com/5ok8GeAeIf

— The_Real_Fly (@The_Real_Fly) March 19, 2021

Every time an item or land is purchased inside Decentraland MANA (its currency) gets burned or destroyed. In other words, this is on par with share buybacks for a stock. As the popularity of the game increases and degenerates buy and sell stuff, the less shares outstanding. Pros know where this leads to and in my opinion, providing we’re still in an era of wanton depravity, substantially higher coin prices.

Moving on, I was all but out of my spec yesterday, but kept ONE stock and it happened to soar 50% today, ZKIN. See pal, that’s the type of person that I am — completely and entirely blessed by the Gods. I am up 170bps for the session and I have done nothing but show up. I am about to begin trading a bit now.

Horrifying session. Down 400 NASDAQS, WTI -9%. This feeeeeels different, like the top was real. Jim Biden is hard at work to reinstate the misery we endured from 2015-2016.

It’s over.

I was destroyed for 5% today, cashed out and the deployed half my money into defensive stocks. I didn’t want to short in the hole and I didn’t NOT want to buy on a massive down day, so I went conservative and defensive.

But odds are, we bounce and forget all about this by lunch tomorrow.

Happy trading.

It quite literally is over. I also met CATACLYSM in my trading day. As I gallivanted to and fro, I was met with a sharp metal object to the face — bludgeoned and destroyed. I am off by 410bps now and I have all but called it a day, presently 90% cash.

My process was simple: repeat the shit I did yesterday, which was to chase high volume explosions in the crypto space. It worked like a gem yesterday, up 10%. And today, in the morning at least, I was barreling into large swaths of cash, grandiose pleasures and the fortitude to see it through. Then the reversals came and those upside down frowns because frowns again. Stocks like TKAT and OCG were met with DISASTER, as people fled the NFT sector for fear their dicks would be severed.

It’s especially SAD because I was up so much, feeling so grande. I was going to buy Tiny Tim a new wooden crutch — but now he has to die — because my NFT related stocks COLLAPSED, leaving me in a most forlorn predicament. I suppose I could look at this ordeal in a half glass full manner, which is I am +5% since yesterday. But I will not do that, Sir. That sort of thing is for weaker men. But I will go into my process of trading, now that I am here and awfully chatty.

I look for stocks within 3% of session highs, up more than 4%, sporting a 4+ technical score from Exodus, and volume greater than 500k. I look for trends and have endless baskets of categories to help me identify them before others. When I find a trend or a pattern, I jump on it unrelenting. I chase shit +50% all the time, in the hopes of squeezing out another 5-10% or so. I do this over and over and over. I cut my losses when stocks hit -10% MAX or if they look sloppy and tired and the trend quit. On days like today, off 4%, I all but shut it down. No sense it making a greater FOOL out of myself. Tomorrow is a new day. I would say my guiding principles are to be very quick in taking gains and losses and working on my volume of wins vs the size of them. I always start positions off at 5% of my portfolio, rarely go more than 15%, and I usually just stick with 5% and move on. I will average down if the stock I buy quickly drops — because quick drops are usually due to a big seller and once that fucker is gone — the stock can recover. I am quite successful in finding the right point to average down. Recently I enjoy selling everything in the morning and starting anew. The gains are so great, it makes little sense to hold stuff from the day before.

I run through 40-90 trades per day and sometimes I book 10 losing trades in a row. I am never emotional or sentimental about trades and view myself as streaky, with a penchant of wanting to risk too much. So I check myself by forcing myself to sell when my positions are heading down. Because I don’t want to sell them. In my head, I cannot lose and XYZ is only down 8% because it’s resting. Truth is, the market knows more and the market always wins. So, it’s better to cede to it, rather than fight trends, a losing battle.

Currently we are seeing the 2014 narrative play out. Bubble stocks are off by 23% the past month. Pedestrian logic would suggest we might be bottoming soon. I think we are just getting started. These fuckers will bottom after down more than 50% from the top. Meanwhile, most of the market will be fine. We might even find a week or two of severe upside reversals. My opinions are truly meaningless, however. It’s best to deal with the market day to day, position accordingly. Right now we are DOOMED.

Anyone who owns bonds is getting their brains blown out, as yields SURGE to new recent highs. The 10yr is up a staggering 11bps to 1.75%, in what we can call yet another irrational Wall Street panic fest sponsored by morons. Have we learned anything at all these past 10 years? The Fed WILL NOT mess with markets. We own them.

The NASDAQ has succumbed to CATACLYSM, now by more than 200. At the same time, NFT token stocks are ripping heads and shoulders off. Stocks like TKAT and OCG are leveling whole cities and the people who own them (LOOK AT ME) have the biggest dicks in the world.

That being said, I pressed my luck even further today and went from down 100bps to up 100bps to now down 200bps — because moron. I bought everything that ran up, and now I ride them as they go lower. I took the Ls, cut the losses, and now have 55% cash — but the stocks inside my portfolio are still weak.

Alas, this is the price we pay for greatness, Sirs. If you want 200% gains by March, you need a really big dick and you really need to do things that others aren’t willing to do. That said, the down days are perhaps a bit grim and dark. But it’s important to associate zero sentiment with positions. If you’re in XYZ and it trends lower — fuck it and sell it.

More on this later.

Long story short, I performed great acts of miracles today inside Exodus — up a staggering 10% via 5% positions in a slew of NFT related cryptos stocks. The whole thing is comical — but I am HOLDING FIRM into the night and hopefully will sell them at 4am 100% higher.

I closed out 10 trades for double digits gains, ranging from +10% to +20%. In my YOLO, I have gains of 60% in OCG. I stand before you, on this holy day of beer, a very successful man with a stout brokerage account.

I now depart you for bottles of beer and whiskey, an array of bland foods, all boiled for me since morning. I wish you all the best; but just know that you’ll never be as good as The Fly.